Binance Charity Fund, the philanthropic arm of the world’s largest crypto exchange, Binance Global Inc., has announced it is funding 30,665 Web3 scholarships in 2023.

See related article: Binance Charity Fund donates to India’s COVID-19 fight

Fast facts

  • The Binance Charity Scholar Program aims to enable new students to develop skills and experience in the burgeoning Web3 field without running into financial barriers and hopes to increase the diversity and talent of those working in the field.
  • Web3 is a loosely defined term referring to the next iteration of the internet which is built upon blockchain technology, cryptocurrency and non-fungible tokens (NFTs).
  • In the past six months, Binance Charity has donated more than US$2.2 million in BUSD — a dollar-pegged stablecoin founded by Binance and finance firm Paxos — and provided 36,500 scholarship placements from 82,000 applications.
  • The placements were in educational facilities from around the world including Australia, Cyprus, France, Germany, Nigeria and Senegal.
  • Binance Charity said it was also working with Ukrainian-based facilities to help re-train people who may have lost their jobs due to the Russian invasion.
  • The charity has also partnered with the non-profit organization, Women in Tech, to offer training to almost 3,000 women in South Africa and Brazil.
  • The push for scholarships comes amid high demand for software engineers. The U.S. Bureau of Labor Statistics predicts a 25% increase in employment positions for software engineers, or roughly 411,400 positions, over the next 10 years.

See related article: Web3 Needs Women